IOTA: Another movement coming soon
Updated
Price is accumulating between 1.1 and 1.7 for a while. In 3D timeframe we can see clear wedge pattern and also RSI is close to the support on uptrend line.
So all in all:
- Any daily close between $1.8- $1.9 will confirm that another strong bull run is around the corner
- There can be one last downward leg to $1.4 level before we see green candles on 3D timeframe. You can tell this with checking how price reacts when it touches to the upper - lower trend line inside the wedge.
When the price breaks $1.8-$1.9 zone, there is no reason to not hit $5 in a very short term.
So all in all:
- Any daily close between $1.8- $1.9 will confirm that another strong bull run is around the corner
- There can be one last downward leg to $1.4 level before we see green candles on 3D timeframe. You can tell this with checking how price reacts when it touches to the upper - lower trend line inside the wedge.
When the price breaks $1.8-$1.9 zone, there is no reason to not hit $5 in a very short term.
Note
As expected price hit $1.8, weekly close around/above this price will enable another strong bull run
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.